By Marisa Wong
Los Angeles, Nov. 16 – Ventas, Inc. priced a private offering in Canada of C$775 million of senior notes in two tranches, according to a news release.
The company priced C$475 million of 2.45% senior notes, series G, due Jan. 4, 2027 and C$300 million of 3.3% senior notes, series H, due Dec. 1, 2031.
The notes will be issued by indirect wholly owned subsidiary Ventas Canada Finance Ltd. and guaranteed by Ventas.
The notes are being sold on a prospectus-exempt basis to accredited investors.
Proceeds will be used to fund the redemption of Ventas Canada’s 3.3% senior notes, series C, due 2022, which will be early redeemed on Dec. 8. Remaining proceeds are expected to be used for general corporate purposes, which may include repayment of a portion of Ventas’ existing debt.
Ventas is a Chicago-based real estate investment trust for housing and health care properties.
| Issuer: | Ventas Canada Finance Ltd.
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| Guarantor: | Ventas, Inc.
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| Amount: | C$775 million
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| Description: | Senior notes
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| Announcement date: | Nov. 16
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| Settlement date: | Dec. 1
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| Distribution: | Canada
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| Series G notes
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| Amount: | C$475 million
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| Description: | Senior notes, series G
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| Maturity: | Jan. 4, 2027
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| Coupon: | 2.45%
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| Series H notes
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| Amount: | C$300 million
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| Description: | Senior notes, series H
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| Maturity: | Dec. 1, 2031
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| Coupon: | 3.3%
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